Lower mid-market private equity firm Camden Partners has brought the total funding raised by software-as-a-service company IPG to $50m by leading a $10m Series C round.
Existing backer Sequoia Capital also took part in the round for IPG, which provides implant management and predictive analytical software.
Its device aims to streamline the management and delivery of implantable devices by working directly with health plans, clinical providers, facilities and medical device manufacturers.
Camden Partners managing member Christopher Kersey said, “We are excited to be partnering with IPG. As the market leader in Device Benefit Management, they are delivering truly innovative solutions that are having a significant impact on the total implantable device market.”
Baltimore-based Camden invests in profitable companies with revenues of $10m to $100m and an EBITDA of up to $10m.
Other companies backed by Camden include Pink Sheets-listed IT training company New Horizons Worldwide, which was acquired by the firm for $56m a year ago.
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